Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On February 24, 2026, Graphjet Technology, a Cayman Islands exempted company (the “Company”), received the decision of the Nasdaq Listing and Hearing Review Council (the “Listing Council”) affirming the decision of the Nasdaq Hearings Panel (the “Panel”) to delist the Company’s securitie…
Filed Mar 2, 2026Accepted Mar 2, 2026, 11:30 AM ESTCIK 1879373Accession 0001213900-26-022336
Graphjet is the owner of the state-of-the-art technology for the manufacture of artificial graphene and graphite, critical raw materials used in a variety of industries. The technology was developed through Graphjet’s collaboration with UKM and UTEM. Graphjet’s breakthrough technology transforms an abundant and renewable waste product, palm kernel shells, into highly valued artificial graphene and graphite. Graphjet prepared patent applications on its bio-mass processes and production methods, and it believes it is the only producer currently capable of using biomass to produce graphite and graphene in mass production scale. Graphjet received approval of its patent application (i) for a palm-based synthetic graphite and the preparation method thereof on September 22, 2022; and (ii) a palm-based synthetic graphene and the preparation method thereof on March 27, 2024.
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Item 3.01Item 3.01 - Notice of Delisting
Item 3.01. Notice of Delisting or Failure to
Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On February 24, 2026, Graphjet Technology, a Cayman
Islands exempted company (the “Company”), received the decision of the Nasdaq Listing and Hearing Review Council (the
“Listing Council”) affirming the decision of the Nasdaq Hearings Panel (the “Panel”) to delist the
Company’s securities from The Nasdaq Stock Market LLC (“Nasdaq”).
As previously disclosed, on November 11, 2025,
the Panel determined to delist the Company’s Class A ordinary shares from Nasdaq due to deficiencies under Nasdaq Listing Rules
5450(b)(2) (market value of listed securities) and 5450(b)(3)(C) (market value of publicly held shares). The delisting became effective
on November 13, 2025. On November 25, 2025, the Company timely appealed the Panel’s decision to the Listing Counsel pursuant to
Nasdaq Listing Rule 5820 (Docket No. NQ 7187N-25), and Nasdaq acknowledged the appeal on November 26, 2025. In its appeal, the Company
proposed a new compliance plan centered on the equity standard under Nasdaq Listing Rule 5450(b)(1), which requires stockholders’
equity of at least $10 million and a market value of publicly held shares of at least $5 million.
On February 24, 2026, after reviewing the entire
record, the Listing Council affirmed the Panel’s delisting decision.
